Wedge Capital Management L L P NC Has $13.33 Million Stock Position in AGCO Corporation $AGCO

Wedge Capital Management L L P NC grew its holdings in shares of AGCO Corporation (NYSE:AGCO) by 19.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 111,374 shares of the industrial products company’s stock after acquiring an additional 17,846 shares during the period. Wedge Capital Management L L P NC’s holdings in AGCO were worth $13,331,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. GAMMA Investing LLC grew its stake in shares of AGCO by 5.0% in the second quarter. GAMMA Investing LLC now owns 1,963 shares of the industrial products company’s stock worth $235,000 after purchasing an additional 94 shares during the last quarter. UMB Bank n.a. increased its holdings in AGCO by 16.8% in the fourth quarter. UMB Bank n.a. now owns 759 shares of the industrial products company’s stock valued at $79,000 after purchasing an additional 109 shares during the period. Choreo LLC raised its position in AGCO by 2.0% during the 4th quarter. Choreo LLC now owns 6,533 shares of the industrial products company’s stock worth $684,000 after purchasing an additional 128 shares during the last quarter. Gateway Investment Advisers LLC raised its position in AGCO by 6.1% during the 4th quarter. Gateway Investment Advisers LLC now owns 2,367 shares of the industrial products company’s stock worth $247,000 after purchasing an additional 137 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in AGCO by 36.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 521 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 138 shares during the last quarter. Institutional investors and hedge funds own 78.80% of the company’s stock.

Wall Street Analyst Weigh In

AGCO has been the topic of a number of analyst reports. DA Davidson set a $151.00 price target on AGCO in a research report on Friday, July 31st. JPMorgan Chase & Co. lowered their price objective on AGCO from $143.00 to $130.00 and set an “overweight” rating for the company in a research report on Monday, July 13th. Truist Financial reaffirmed a “buy” rating and issued a $135.00 price objective (down from $159.00) on shares of AGCO in a research note on Friday, July 31st. Wall Street Zen cut AGCO from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Citigroup decreased their target price on shares of AGCO from $125.00 to $115.00 and set a “neutral” rating for the company in a research report on Monday, August 3rd. Four equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, AGCO currently has a consensus rating of “Hold” and an average target price of $120.33.

Insider Buying and Selling

In related news, major shareholder & Farm Equipment Ltd Tractors sold 492,418 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $115.33, for a total transaction of $56,790,567.94. Following the completion of the sale, the insider owned 3,017,565 shares of the company’s stock, valued at $348,015,771.45. This trade represents a 14.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.62% of the stock is owned by corporate insiders.

AGCO Price Performance

AGCO stock opened at $101.47 on Thursday. The company has a quick ratio of 0.58, a current ratio of 1.32 and a debt-to-equity ratio of 0.53. The firm has a market cap of $7.11 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 0.84 and a beta of 1.08. The company’s fifty day simple moving average is $113.00 and its 200 day simple moving average is $118.06. AGCO Corporation has a 12-month low of $99.21 and a 12-month high of $143.78.

AGCO (NYSE:AGCO) last issued its quarterly earnings results on Thursday, July 30th. The industrial products company reported $1.43 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.03). AGCO had a return on equity of 10.09% and a net margin of 5.15%.The business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same quarter in the previous year, the business posted $1.35 earnings per share. The business’s revenue was down 1.0% on a year-over-year basis. AGCO has set its FY 2026 guidance at 5.500-5.750 EPS. On average, analysts expect that AGCO Corporation will post 5.58 earnings per share for the current year.

AGCO Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be given a dividend of $0.30 per share. The ex-dividend date is Friday, August 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.2%. AGCO’s dividend payout ratio is presently 16.60%.

AGCO Profile

AGCO Corporation is a global leader in the design, manufacture and distribution of agricultural machinery and precision farming solutions. Headquartered in Duluth, Georgia, the company markets a diverse portfolio of well-known brands, including Massey Ferguson, Fendt, Challenger, Valtra and GSI, serving farmers and producers in North America, South America, Europe, the Middle East, Africa and Asia Pacific. Through an extensive dealer network, AGCO provides equipment tailored to a broad range of crop and livestock operations.

The company’s product offerings span tractors, combine harvesters, hay and forage tools, application equipment, seeding and tillage implements, as well as grain storage and protein solutions.